Une gestion de la dette publique axée sur le risque et une amélioration de la liquidité des marchés obligataires locaux sont deux stratégies importantes et qui se renforcent naturellement pour les marchés financiers émergents. Elles permettent aux économies émergentes i) d’atteindre...

Risk-based public debt management and liquid domestic bond markets are important mutually reinforcing strategies for emerging financial markets and developing countries in general.

The forces shaping the revolution in banking and capital markets have radically changed the financial landscape during the past three decades. A remarkable feature of this changing new landscape has been the astonishing rate of internationalization of the financial system in the last two...

A large, untapped reservoir of potential partnerships between private financial institutions (banks, asset managers, private equity firms, etc.) and aid donors remains to be fully exploited. Banks, private equity and asset management firms are important parts of a broad set of private actors in...

It might seem obvious discovering an asset such as oil or copper would be wonderful news for the country making the find. Yet the opposite is often true. The windfall can bring poverty, civil strife, corruption, inequality, slower growth and undemocratic practices. The phenomenon is known as the...

Political cycles represent a core issue for capital markets in developing and emerging countries. This paper analyses the intricate links between financial markets and emerging democracies and highlights changes in the ways analysts and investors react to political cycles in emerging markets....

The paper addresses two core questions: do investment banks’ recommendations have an impact on the allocation of portfolio flows in the emerging-markets asset class? Above all, are these recommendations related to the business of investment banks? In order to answer these questions, we...

The paper focuses on relations between experts and politicians in Latin America. It is divided into three parts. The first outlines the distinctive features of the political economy of expertise in Latin America. This provides the context to the second part, which focuses on the analysis of...

Private capital movements have risen in recent decades, and bank flows have been part of this story. Some empirical studies have analysed the political drivers of private international liquidity, but paradoxically very few have looked at the political economy of bank flows. Even less research...

Over the past decade we have witnessed a double convergence. Aid donors have developed a growing interest in the private sector while private banks have set about creating corporate social responsibility programs, sustainable lending and microfinance programmes. As a consequence, the dialogue...